Is my CPU using too little wattage?

That certain i7 is an Ivybridge processor. When Intel built these processors they used cheap internal thermal paste, which makes the temperatures seem stupidly hot. Don't worry it's completely normal. I get it a lot with my i5 3570k. Ivybridge processors have a maximum running temperature of around 105C so you have nothing to worry about.

Low wattage will NEVER heat a cpu. It is true that Intel uses thermal past and not welding to make contact from the core to the heat spreader.

Intels official MAX temp is 66.8, but this is a Tcase and NOT a core temp(core temps are ALWAYS higher).
http://ark.intel.com/products/63698/Intel-Core-i7-3820-...

You are in no real danger, but anything over 80 would honestly be pushing it for stock.

Games at 55 is nothing to worry about.

EDIT.

A cheap heatsink like the CoolerMaster 212+ or evo will lower your temps if they worry you.

No the Intel® Core™ i7-3820 isn't an Ivy Bridge or 3rd generation Intel Core processor. The socket 2011 processors are 2nd generation Intel Core processors and the temperatures are about what I would expect from this processor under 100% load with Prime95 and being used. I would expect to see idle temperature with the stock HSF (heatsink/fan) being around high 30c to low 40c.

If you found a stick between HSF and the processor I would clean all of the old thermal paste off and reapply some new fresh TIM.

While I do see higher temperatures with my Intel Core i5-3570K when I am overclocking with good cooling it isnt hard to handle.

Thanks for all your replies everyone. So these temperatures are ok? The only thing is, I've seen people reporting stable temps of around 60c in Prime95 when they're overclocked to about 4.5ghz. The heatsink I have now is not the best and it doesn't even seem to make full even contact with the CPU when screwed down tightly, using the diagonal increments tightening method. The LGA 2011 sockets seem to come with stock screws for mounting the heatsink into, which makes me think that because my heatsink is a cheap one that came with a backplate, it was actually designed with the backplate in mind and isn't completely compatible with the stock brackets. (It's the GlacialTech Igloo 5620). With older CPUs and completely botched thermal paste jobs I've always had perfectly stable temps however which makes me question it. I think I'm mainly just concerned because I shelled out a fair bit recently on upgrading my PC so I just really want to make sure there's nothing out of the ordinary.

In relation to reapplying the paste, I have some AS5 on the way and I'm going to look at trying the vertical line method, and getting it right this time. (I have some very cheap Chinese-y type paste that came with my cooler on it at the moment).

Thanks for your help and suggestions guys